Algert Global LLC Buys 52,912 Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Algert Global LLC raised its stake in Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 312.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 69,842 shares of the company’s stock after buying an additional 52,912 shares during the period. Algert Global LLC owned about 0.11% of Pliant Therapeutics worth $751,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PLRX. Summit Securities Group LLC acquired a new position in shares of Pliant Therapeutics in the second quarter worth approximately $59,000. SG Americas Securities LLC acquired a new position in shares of Pliant Therapeutics in the 1st quarter worth approximately $107,000. Deerfield Management Company L.P. Series C bought a new stake in shares of Pliant Therapeutics in the 2nd quarter valued at $126,000. China Universal Asset Management Co. Ltd. increased its position in shares of Pliant Therapeutics by 67.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,581 shares of the company’s stock worth $173,000 after buying an additional 4,652 shares during the period. Finally, ProShare Advisors LLC raised its stake in Pliant Therapeutics by 9.1% during the first quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock worth $216,000 after buying an additional 1,203 shares during the last quarter. Institutional investors own 97.30% of the company’s stock.

Insider Transactions at Pliant Therapeutics

In other Pliant Therapeutics news, General Counsel Mike Ouimette sold 7,656 shares of Pliant Therapeutics stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total transaction of $88,503.36. Following the completion of the transaction, the general counsel now owns 94,044 shares in the company, valued at approximately $1,087,148.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Eric Lefebvre sold 12,319 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total value of $142,407.64. Following the completion of the sale, the insider now owns 213,052 shares in the company, valued at $2,462,881.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Mike Ouimette sold 7,656 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total transaction of $88,503.36. Following the completion of the sale, the general counsel now owns 94,044 shares of the company’s stock, valued at approximately $1,087,148.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,596 shares of company stock valued at $804,530 over the last three months. Corporate insiders own 6.40% of the company’s stock.

Pliant Therapeutics Trading Up 3.7 %

NASDAQ PLRX opened at $11.53 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 14.47 and a current ratio of 14.47. Pliant Therapeutics, Inc. has a 52 week low of $10.22 and a 52 week high of $19.62. The business has a 50 day moving average price of $12.56 and a 200-day moving average price of $12.74.

Pliant Therapeutics (NASDAQ:PLRX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.07). On average, analysts predict that Pliant Therapeutics, Inc. will post -3.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on PLRX shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Pliant Therapeutics in a research report on Thursday, August 8th. HC Wainwright restated a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research report on Friday, September 13th. Leerink Partnrs upgraded Pliant Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Oppenheimer cut their price target on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Pliant Therapeutics currently has an average rating of “Buy” and a consensus price target of $40.57.

Pliant Therapeutics Company Profile

Pliant Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes novel therapies for the treatment of fibrosis and related diseases in the United States. The company's lead candidate is bexotegrast, an oral, small-molecule, dual selective inhibitor of avß6 and avß1 integrins, which is in phase 2b trials for idiopathic pulmonary fibrosis and in phase 2a trial for primary sclerosing cholangitis.